May 14, 2007 (LBO) – PABC Bank net profit for the first quarter of 2007 shot up 91% to 45.4 million rupees from 23.7 million rupees in the same period the year before. Interest income in the January 1, 2007 to March 31, 2007 quarter rose to 387 million rupees from 271 million rupees last year, according to results released by the bank.
Interest expenses rose to 234 million rupees from 165 million over the same period.
Provision for bad loans rose to 4.3 million from one million while the bank’s tax liability more than doubled, rising to 28.5 million rupees from 10.8 million rupees. Foreign exchange income increased to 26 million from almost 18 million